Before you allocate a lot of budget to your next marketing effort, you may want to doublecheck who it is you’re selling to. With the exception of IT Professionals, a group that remains primarily male (uh yeah, I know how that sounds), don’t be too quick to assume you’re mainly targeting men with your product or service.

According to numerous studies and reports, Women today account for more than 80%* of all buying decisions. In fact, American women spend about $5 trillion annually…Over half the U.S. GDP.**

Not only are women spending their own money, they are majorly influencing where and how their family, friends, and acquaintances spend as well. And because trust plays a big role in women’s purchase decisions, they routinely review, talk, tweet, and blog about what they love and what they wouldn’t buy on a bet—and other women listen.

In fact, over 90% of women pass along info about deals and finds to others. That’s a powerful purse-full of viral marketing.

By the numbers—Women control financial decisions on:

·  91% of New Homes

·  66% of Consumer Electronics

·  92% of Vacations

·  80% of Healthcare

·  89% of Bank Accounts

·  93% of Food

·  93 % of Pharmaceuticals

·  60% of used Cars

While men still make more final decisions on the family new car purchase, women influence 80% of all car sales, and 95% of women have “veto” power over an automobile purchase, according to Ford Motor Marketing.

To be a leader in any marketplace, it’s always been essential to know everything you can about your target demographic. And these days, looks like you might want to get in touch with your feminine side.

-Barbara Combs

for more on marketing to women, see: Business Week

*Art Spinella, CNW Research

** Reuters / May 2009

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